MT 519 Field Specifications

23. Field 92A: Rate

FORMAT

Option A

:4!c//[N]15d

(Qualifier) (Sign) (Rate)

PRESENCE

Optional

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	O	PRFC	N		A	Previous Factor
2	O	CUFC	N		A	Current Factor
3	O	NWFC	N		A	Next Factor
4	O	INTR	N		A	Interest Rate
5	O	NXRT	N		A	Next Interest Rate

DEFINITION

This qualified generic field specifies:

CUFC	Current Factor	Current factor expressed as a decimal between 0 and 1 defining the outstanding principal of the bond (for asset or mortgage backed securities).
INTR	Interest Rate	Annual rate of a financial instrument.
INTR	Interest Rate	Ratio of the amount of interest paid during a certain period of time to the principal amount of the interest bearing security; Current rate of a floating rate note.
NWFC	Next Factor	New factor expressed as a decimal between 0 and 1 defining the outstanding principal of the bond (for asset or mortgage backed securities).
NXRT	Next Interest Rate	Next interest rate; on a floating rate note, the interest rate applicable to the next payment period.
PRFC	Previous Factor	Previous factor expressed as a decimal between 0 and 1 defining the outstanding principal of the bond (for asset or mortgage backed securities).

NETWORK VALIDATED RULES

The integer part of Rate must contain at least one digit. The decimal comma is mandatory and is included in the maximum length (Error code(s): T40, T43).

When Sign is present, Rate must not be zero (Error code(s): T14).

USAGE RULES

Sign must be present when Rate is negative.

Except if notified differently in the rate definition, when used with format option A (:4!c//[N]15d), the rate should be expressed as a percentage, not as a decimal fraction (12% should be identified by 12, and not 0,12).